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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents $ 61,239 $ 129,893
Trading 3,309 0
Available-for-sale, at fair value (amortized cost of $686,556 and $584,754, respectively) 588,053 486,736
Held-to-maturity, at amortized cost (fair value of $236,986 and $258,617, respectively, with an allowance for credit losses on investments of $131 and $213, respectively) 275,585 299,515
Loans held for sale 16,518 11,497
Loans 3,992,534 2,759,583
Allowance for credit losses on loans (59,929) (35,843)
Carrying amount, net of allowance for loan losses 3,932,605 2,723,740
Land, premises and equipment, net 39,780 17,940
Operating lease right-of-use assets 13,438 5,436
Interest Receivable 20,075 15,700
Bank-owned life insurance 36,033 33,236
Goodwill 85,634 46,783
Other intangible assets, net 43,882 17,158
Servicing rights 7,918 2,052
Deferred income taxes, net 52,885 34,595
Other Assets 84,719 83,432
Total assets 5,261,673 3,907,713
Deposits    
Noninterest-bearing 903,466 728,082
Interest-bearing 3,474,944 2,367,529
Total deposits 4,378,410 3,095,611
Short-term borrowings 238,960 314,170
Long-term debt 59,069 58,956
Operating lease liabilities 18,991 5,751
Accrued Liabilities and Other Liabilities 70,833 64,098
Total liabilities 4,766,263 3,538,586
Commitments and contingencies (Note 13)
Stockholders’ equity    
Preferred stock, $1 par value, 2,000,000 shares authorized: 0 issued and outstanding 0 0
Common stock, $1 par value, 30,000,000 shares authorized: 25,344,803 and 19,734,077 issued and outstanding 25,345 19,734
Additional paid-in capital 269,708 150,343
Retained earnings 273,723 272,705
Accumulated other comprehensive income (loss) (73,366) (73,655)
Total stockholders’ equity 495,410 369,127
Total liabilities and stockholders’ equity $ 5,261,673 $ 3,907,713